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OPEC "Living in a Time Warp" say Critics, As Cartel Releases its Latest World Oil Outlook

The Telegraph notes it was warned by Saudi Arabia 30 years ago that "The Stone Age came to an end, not because we had a lack of stones."

Antwerp Prepares for Construction of LNG Bunker Barge Station

The port authority says a concession agreement is set for signing in the beginning of 2016.

Reports: Macquarie Set to Enter Singapore Oil Storage With Stake in Universal Terminal

A fund run by Macquarie Group may be close to buying a minority stake in Singapore's Universal Terminal, partnering with PetroChina and local traders.

ING Arrests National Navigation Panamax in India Over OW Bunker Bill

The 71,500 DWT Esna was arrested at India's port of Dahej after ING filed a lawsuit to recover $431,200 for bunkers supplied in October 2014.

Fratelli Cosulich Buys Monaco-Based Bunker Trader

Fratelli Cosulich Buys Monaco-Based Bunker Trader

Fratelli Cosulich has acquired 100 percent of the shares of Chemoil Monde Export.

Crude Futures Firm 3%

We are still witnessing 7 year lows and it is more than likely that the market will sustain the low environment well into 2016.

Worst Quarter Ahead for Oil, Says Former Shell Head, But Canada Remains Optimistic

While some industry insiders are forecasting more pain ahead in crude markets, officials in oil-rich Alberta say the market is at the "bottom of the trough."

Oil Price Plummet Could Cause Venezuela to Default in Early 2016

Traders see a 71 percent chance the country will default within the next 12 months.

China ECAs Will Have Limited Impact For Operators, Says Shipbroker

Banchero Costa notes the Chinese rules allow for higher sulfur levels, while lower bunker prices may also be helpful.

Drewry: U.S. West Coast Unprepared for Mega Boxships

Drewry says U.S. West Coast ports "have much work to do" if they intend to handle 18,000 TEU containerships regularly.

LNG Shipping To See Consolidation, Survivors Seen In "Prime Position" In Market

Shipping experts told Reuters that a wave of deals is coming in the downtrodden LNG sector, but that a "cull" will ultimately be good for business.

China Incentives Encouraging Scrapping Of Younger Vessels: BIMCO

A new BIMCO analysis shows Chinese shippers are leading a global trend toward scrapping of younger vessels amid the current shipping downturn.

Swedish Shipowners Association Advocates Fossil Fuel Free Future

"Disappointed" that shipping was left out of the COP21 agreement, the association says it is taking a leadership role in shipping emissions reductions.

Dan-Bunkering, Australian Bunkers Partner on Bunker Supply Venture in Colombia

Dan-Bunkering says it signed the deal for physical supplies in Buenaventura, Colombia in order to strengthen its physical presence in Latin America.

Industry Players Fear Container Alliances Hinder Competition

A survey ordered by the Dutch Shippers' Association shows businesses that ship cargo overseas are concerned about increasing shipping monopolies.

Brent Crude Prices Hit 11-Year Low

Prices for the benchmark crude neared $36 per barrel Monday, the lowest level since July 2004.

South Africa Sees Opportunity to Increase Bunker Storage For Clean Fuels

A recent overhaul of ports investment in South Africa creates a $66 million opportunity in clean fuel bunkers, says President Jacob Zuma.

Oil Price Control No Longer in OPEC's Hands

The latest developments lead one market commentator to ask whether OPEC really is still a cartel.

ACP Says Opening of Panama Canal Expansion WILL Now Be Delayed

Navigation tests will take place on the original inauguration date of April, with an opening date now said to be no later than June.

Vopak Sells UK Terminals to Macquarie Capital and Greenergy

The deal is said to include the sale of three terminals with a combined capacity of about 700,000 cbm, and Vopak's 33% stake in the Thames Oilport.

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